Trump threatens tariffs on all US$505 billion of Chinese imports

Trump Slams Interest Rate Hikes, Ignoring Hands-Off Tradition Toward Fed

"I really like President Xi a lot".

"I don't want them to be scared".

Yet, Trump said he did not introduce tariffs "out of any ill will towards China", according to CNBC. In particular, the Fed's most recent rate hikes could dilute some of the benefit of the tax cuts Trump signed into law previous year.

The Fed has raised interest rates five times since Mr Trump took office in January 2017, with two of those coming this year under Chairman Jerome Powell, the president's pick to replace Janet Yellen.

Presidents historically do not comment on the Fed's policy as it could be viewed as influencing the bank's decisions, which are meant to be independent of political influence.

I put a very good man in the Fed.

Currency markets, however, reacted sharply to the president's Fed criticism. Powell told lawmakers that "for now - the best way forward is to keep gradually raising the federal funds rate".

Powell has downplayed concerns about Trump's politicizing the Fed.

Trump also expressed concerns about how higher interest rates would impact record levels of USA federal debt, which has now exceeded $20 trillion.




Beijing is targeting sectors, like agriculture, that could harm Trump politically at home, though he said in the CNBC interview that he is seeking to do only what is fair.

The president said he was not going to do "for politics" but to "do the right thing for our country". "So somebody would say, 'Oh, maybe you shouldn't say that as president".

In the CNBC interview broadcast Friday, Trump reiterated his claim that the United States is "being taken advantage of" on issues including trade policy. The U.S. should be allowed to recapture what was lost due to illegal currency manipulation and BAD Trade Deals.

Because he hasn't done enough this week, Donald Trump sat down with angry leprechaun in human disguise Joe Kernen, and broke with the respected tradition of the White House staying out of The Federal Reserve's beeswax.

The Fed's Board of Governors declined to comment. But the past three administrations under Bill Clinton, George W. Bush and Barack Obama have refrained from publicly commenting on policy decisions. In emerging markets such as Turkey, the government of President Recep Tayyip Erdogan has felt no such restraint.

"We have been ripped off by China for a long time", the United States president said.

"We think the devaluation is on objective", Carl Weinberg, chief worldwide economist at High Frequency Economics, wrote in a client note regarding China's latest currency change.

But one JPMorgan economists thinks Trump's public desire for lower interest rates could actually backfire. In June, officials indicated in their individual economic projections that there were two more increases in store before the end of 2018, likely in September and December.

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